Eli Lilly Opens Major R&D Center at Boston Seaport
Alexandria Real Estate Equities nailed down the 346,000-square-foot full-building lease more than two years ago.
Pharma powerhouse Eli Lilly and Co. has opened its Lilly Seaport Innovation Center, a research and development facility in the Boston Seaport, as was reported by Citybiz on Tuesday.
Lilly Seaport Innovation Center occupies a 12-story, 346,000-square-foot building developed by Alexandria Real Estate Equities Inc., in partnership with National Development. The property is located at 15 Necco St. in Boston’s rapidly expanding Seaport district.
The facility reportedly will be used for Lilly’s efforts in RNA- and DNA-based therapies, as well as in pursuing new medicines and treatments towards diabetes, obesity, cardiovascular diseases, neurodegeneration and chronic pain.
Lilly preleased at the still-underway building in early 2022.
15 Necco St. features a high-performance building envelope, on-site geothermal energy and a solar panel installation. Its developers planned to pursue LEED Gold, Fitwel and WELL certifications. The building also includes laboratory and office space, and will also house the first Lilly Gateway Labs location on the East Coast, which offers turnkey research and development facilities for partner companies.
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Separately, Citybiz reported that Tevard Biosciences Inc., a privately held biotech company developing tRNA-based therapies to treat a range of genetic diseases, will be moving its corporate headquarters to the new Lilly Gateway Labs facility. Companies selected for the Lilly Gateway Labs share expertise and resources with Lilly, but retain their strategic independence and ownership of their assets and intellectual property.
Boston Strong
Alexandria’s portfolio in greater Boston totals 13.2 million rentable square feet across eight campuses, including three prominent campuses in Cambridge: the Alexandria Center at Kendall Square, the Alexandria Center at One Kendall Square, and Alexandria Technology Square.
In terms of existing lab/R&D space, metro Boston is far and away the biggest such market in the United States. Combined with the Bay Area, it accounts for about half of current inventory nationally and closer to two-thirds of space under construction, according to a report by Avison Young.
As lab/R&D sublease availability continues to grow across the country, Boston and the Bay Area are also leaders in this metric, at 61 percent of the total, according to the data.
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